Atlanta BeltLine Inc. may leave Underground

Atlanta BeltLine Inc. is hitting the market for some of downtown’s high-rise office space, as the city looks to sell its current home, Underground Atlanta.

Atlanta BeltLine Inc., the group overseeing the $3 billion redevelopment of a 22-mile loop of abandoned railroad tracks around the city, occupies a couple of floors at Underground Atlanta (86 Pryor Street). It could renew its lease there by the end of the year, though it would need another floor to accommodate its growth.

Atlanta BeltLine also says it may “relocate ... to another location in the downtown Atlanta area,” according to a request for proposals seeking a firm to design the new office space. Atlanta BeltLine requires up to 20,000 square feet that would reflect “the values and brand of the organization with opportunities to tell the ABI story,” the RFP says.

"The purpose of this RFP is to be prepared with multiple options at the expiration of our current lease," said BeltLine spokesman Ethan Davidson.

Downtown office space is generally the least expensive in all of intown Atlanta, averaging about $21.59 a square foot, according to Cushman & Wakefield.

Atlanta BeltLine Inc., led by CEO Paul Morris, manages the city’s most comprehensive revitalization effort and one of the largest projects of its kind in the United States, potentially connecting 45 intown neighborhoods to trails and parks and mixed-use developments such as Ponce City Market.

Atlanta BeltLine Inc. has occupied space at Underground since 2006.

Earlier this year, the city of Atlanta bought out the remainder of an 88-year lease with the project’s operating partner Dan O’Leary for $8.8 million. The official owner is the Downtown Development Authority, an authority within the Atlanta Development Authority (Invest Atlanta).

The city plans to market Underground Atlanta to developers, Atlanta Business Chronicle reported in March.